JPMorgan CEO Dimon’s 2024 pay rises after report | Inventory Information
By Pritam Biswas and Nupur Anand
NEW YORK (Reuters) -JPMorgan Chase mentioned on Thursday that long-serving CEO Jamie Dimon’s 2024 pay bundle climbed about 8.3% to $39 million after the bank posted a report revenue amid a revival in dealmaking and fundraising actions.
His compensation included a base wage of $1.5 million and $37.5 million in incentives.
JPMorgan’s revenue rose to a report high in 2024 as its dealmakers and merchants reaped a windfall from rebounding markets within the fourth quarter.
The pinnacle of the most important U.S. lender had obtained $36 million in pay for 2023 and $34.5 million in each 2021 and 2022 towards a backdrop of financial uncertainty, geopolitical tensions and the lingering results of the COVID-19 pandemic.
Some of the opposite senior executives on the bank additionally noticed their compensation rising by between 4% and 21% in 2024.
Dimon’s pay was on par with Goldman Sachs CEO David Solomon, who additionally earned $39 million in 2024.
Dimon, an influential CEO whose 19-year tenure stretches properly past his friends, has mentioned that he’s prone to step down in much less than 5 years.
The board has recognized candidates to take over after Dimon. The contenders to succeed him embody Marianne Lake, CEO of shopper and neighborhood banking, Troy Rohrbaugh, co-head of the business and investment bank and Mary Erdoes, CEO of asset and wealth management.
Jennifer Piepszak, one other senior govt, has taken herself out of the CEO race for now, the bank mentioned this month.
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